Invesco has sold The Paragon, a six-storey, 75,373 sq ft building on Victoria Street, to Lothbury Property Trust for £29.45m (5.9%). Tenants include law firm Thrings, accountants Ernst & Young and international HR and finance consultants Mercer.
WestOne is on the market for in excess of £10.14m (6.5%). The Grade A, city centre building currently comprises a headquarters office extending to 26,928 sq ft NIA, with an additional lower ground floor level of 3,875 sq ft which has now been fitted out for office use.
The headquarters space is let for a term of 15 years without break from 1st April 2011 to Triodos Bank NV - one of the world’s major ethical banks. The lower ground floor will be subject to a 2 year rent, rates and service charge vendor’s guarantee. Total gross rent is £731,337.75 per annum (£263.7 per m2 / £24.50 per ft2 on the headquarters element). The net rent is £697,337.75 per annum.
To view our latest UK Investment Transactions (UKIT) report, please click here.